Lockheed Martin (LMT) shares fell approximately 4% on Thursday. The decline reflects broader defense-sector weakness and persistent investor concerns regarding recent performance.
Investors remain focused on first-quarter results that included an earnings miss and negative free cash flow. Profit margin pressures are impacting several key programs, specifically the F-16, C-130, and CH-53K helicopters.
A recent Government Accountability Office report further weighed on the stock. The report highlighted low readiness rates for the company's flagship F-35 program.